Singapore, September 14, 2015 – Leading global commercial real estate services firm, Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is putting up for sale – by Expression of Interest – an entertainment complex located at 1 and 3 Yuan Ching Road.
Interested parties are invited to submit their offer to Colliers International by 15 October 2015 at 3.00 pm.
Commonly referred to as SuperBowl Jurong, the subject property comprises a part-two/part-three-storey block and a pair of two-storey blocks with a total net floor area of approximately 111,000 sq ft. It sits on a 234,152 sq ft site, which has a JTC lease of 30 years w.e.f. 1 January 2002.
Under the 2014 Master Plan, the subject site is zoned for “Commercial and Residential” use.
SuperBowl Jurong currently enjoys a high occupancy rate of 99.6 per cent, with a strong tenant profile – including Sheng Shiong supermarket, McDonald’s, Subway and SuperBowl, among others.
Indicative price of the subject property is S$20 million.
Mr Tan Boon Leong (陈文龙), Executive Director of Industrial Services, says, “SuperBowl Jurong has always been a landmark in the Yuan Ching area, where it enjoys a large catchment consumer base of Yuan Ching and Jurong residents. The sale of the subject property presents an opportunity for operators in the lifestyle, entertainment and recreational industries to own a ready entertainment complex in the Western part of Singapore. Depending on the successful buyer’s preference, he or she can consider minor refurbishment works to give the development a refreshed look.”
Mr Tan adds, “The Jurong Lake District has undergone a metamorphosis to become a vibrant commercial hub in recent years. The bustle will continue and spread when the Singapore-Kuala-Lumpur high-speed rail terminus, the edutainment clusters, as well as park connectors and pedestrian linkages to surrounding areas such as Taman Jurong and Yuan Ching, are completed in another few years. These changes, coupled with the housing and industrial estates in the Yuan Ching vicinity, will bode well for the retailers and businesses operating within the complex.”
The subject property enjoys prominent frontage along Jalan Ahmad Ibrahim and Ayer Rajah Expressway. The immediate vicinity is generally mixed in nature, comprising both residential and industrial estates. Other notable developments include Corporation Place, CISCO Recall Centre and Fairway Country Club, among others. Accessibility to other parts of the island can be facilitated by major expressways, such as Ayer Rajah Expressway and Pan-Island Expressway.